Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Short rise in vacancy rate across Aus

20 December 2012 Reporter

For the first time in several months the national vacancy rate has increased, new research has found.

Figures released this week by SQM Research reveal that the level of residential vacancies rose during the month of November, increasing by 0.1 per cent on a national level and coming to a total of 54,067.

This is the first time in several months that we have seen a rise in vacancies, coming out of an extended period of modest declines and stagnation during October.

“The rise in vacancy rates this month is the result of a seasonal effect which occurs normally at this time of year,” Louis Christopher, managing director of SQM Research said.

“We expect December to also record a risel, due to seasonality.” 

Year-on-year, SQM Research has also recorded a modest rise in vacancies – 0.1 per cent nationally, when compared to the corresponding period of the previous year.

Melbourne has been pushed up beyond three per cent during the month of November, with three per cent being the figure that SQM Research believes to be the equilibrium when referring to residential vacancy rates.

Recording a vacancy rate of 3.2 per cent, this capital city has experienced a marked monthly increase of 0.4 per cent, coming to a total of 13,411.

Darwin has also experienced a substantial monthly increase in vacancies, climbing 0.4 per cent during the month of November and coming to a total of 1.1 per cent. Although these increases may be perceived as largely seasonal, this could spell some relief for Darwin, which has been recording a vacancy rate of less than one per cent for quite some time now.

SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.

SQM considers this to be a superior methodology, compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.

Short rise in vacancy rate across Aus
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

What is the worst mistake vendors make?

Price too high
Taking low offers too personally
Neglecting curb appeal
Not ‘staging’ the home for sale
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.